Offshore Bullion Storage or 3 eggs?
What does one hundred trillion dollars buy you?
How about a mansion in every country, an airplane at every airport and a private island in every ocean?
How about 3 eggs?
When Zimbabwe issued its infamous 100 000 000 000 000 dollar bill, it could buy 3 eggs on the day it was issued. A few days later, it could only buy one egg.
Unbacked fiat/paper/credit, and nowadays electroniccurrency, has a poor track record. After studying this list of 609 defunct currencies, out of which 153 died due to hyperinflation, it’s obvious that every time fiat currencies are tried, they die through hyperinflation, war or political decrees.
Using the debt-based US Dollar as a store of value creates massive imbalances and misallocations globally. With an unprecedented debt bubble fuelling paper markets such as stocks and bonds, we stand on the cliff edge of avertical drop.
Since the Nixon era, we have suffered under a fiat currency ponzi scheme wiping out most of the purchasing power of our currencies.
Image courtesy of bullionstar.com